The Knicks are the most valuable franchise in the NBA for the third straight year, according to franchise values released by Forbes on Wednesday.

Forbes has the Knicks valued at $3.6 billion, up 9 percent from last year. It also makes them the sixth most valuable sports franchise in the world, according to Forbes. Forbes said that the Knicks, with revenue of $426 million, continue to profit from the recent $1-billion renovation to Madison Square Garden.

The Nets are the sixth most valuable franchise in the NBA, according to Forbes. It values the Nets at $2.3 billion with revenue of $273 million. According to Forbes, the Nets benefitted from Barclays Center and non-NBA events at the arena.